'Unrelenting' auto financing conditions, Q3 sales surprises, dealer websites fall short

Hey everyone. PSA: Yesterday, we received reports of nationwide Manheim Auction outages. But as of now, access has been fully restored and users can rest assured that this was not a security-related incident. Good news for buyers — it’s back to business as usual.

— CDG

1. New car buyers are walking a financial tightrope

The latest data from Edmunds reveals that new car APRs have stayed above 7% for six quarters straight, while 0% finance deals have nearly vanished—making up just 3% of Q3 sales.

The fallout? More buyers are turning to risky 84-month loans to keep payments manageable, raising the stakes for negative equity.

With rates stuck high and affordability shrinking, the auto market could be in for a rough ride ahead … Read more

2. EVs defy Q3 auto sales slump

Q3 brought a wave of challenges for automakers, from the fallout of the CDK Global cyberattack to hurricane-related dealership closures, leading to overall sales declines for most brands.

Between the lines: But even as traditional vehicle sales stumbled, electric and hybrid models showed surprising strength — an unexpected silver lining in an otherwise turbulent quarter.

Toyota’s electric models shot up 38.6% year-over-year, GM’s EV sales spiked 46% from Q2, and Honda saw more than half of its CR-V and Accord sales go hybrid … Read more

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3. New study shows car dealer websites aren't measuring up

New research reveals a massive disconnect between what consumers expect from dealership websites and what retailers are actually delivering.

Driving the news: The results found that less than 1% of auto dealer sites passed Google’s user experience standards, with issues like slow load times, excessive plugins, and bloated code being the main culprits.

But since dealership sites require more complex features—like high-res images and interactive tools—meeting these standards is trickier than it looks. Improving performance is important, but not at the cost of the functionality that car shoppers rely on ... Read more

• U.S. funding a “drop in the bucket” of what’s needed for EVs.

• Tesla stock slips after it reports 462,890 total deliveries during the third quarter.

• Toyota will invest $500 million more into air-taxi startup Joby Aviation.

• Ford cuts pricing on BlueCruise, adds one-time payment option.

• Costco Auto Program is offering a discount on Hummer EV pickups and SUVs.

Thanks for reading everyone.

— CDG